The Sir Thomas White Loan Charity is delighted to announce a total sum of £87,500 of interest-free loans were approved, following the Charity’s final round of interviews with prospective borrowers for 2016.
The figure from the final quarter takes the grand total delivered in loans for the year to an impressive £375,000.
One of Leicestershire’s oldest charities, the Sir Thomas White Loan Charity – based at Leicester’s Friar’s Mill – provides people aged over 18 and under the age of 35 with business and education loans, which are interest-free over a period of nine years.
The Sir Thomas White Loan Charity is encouraging budding young entrepreneurs from Leicestershire to get in touch to help their start-up get off the ground.
The Charity, based at Friars Mill, just outside Leicester city centre, provides nine-year interest free loans of up to £15,000 to people aged over 18 and under the age of 35 wishing to start their own business. Successful borrowers are provided with a three-year break period before equal monthly repayments commence, thus providing a lengthy period for businesses to become fully operational.
A case of turning a negative situation into an opportunity motivated Dildar Sandhu to launch his business, The Stottie Shop in Hinckley.
The culinary entrepreneur used to play hockey at county level – before he had the misfortune of breaking his leg doing so. This meant he had to take six-months out from work, giving him plenty of spare time to fill. Some people might have done nothing but sit at home and curse their bad luck. Not Dildar.
When conceiving a new business idea and putting the initial pieces in place to make that idea a reality, few things drive a person more than passion – and through the Sir Thomas White Loan Charity, many business borrowers have been provided with the financial support to use that passion to succeed.
Rob Pullen is a perfect example of somebody that took their passion and used it when establishing his business – the Leicester Running Shop, currently located on Clarendon Park Road; just off the hugely popular Queens Road in the Clarendon Park area of Leicester.
To spread awareness of the support the Sir Thomas White Loan Charity can offer, trustee David Howard will be attending a networking session at Phoenix Square followed by a visit to LCB Depot, on Wednesday 30 March.
Firstly, he will be at Creative Coffee from 10:00am to 12:00pm, to speak to any entrepreneurs in attendance that might be able to benefit from a business loan from the Charity.
Billions of pounds are spent each year across the hair and beauty industry in the UK, meaning there’s a lot of competition amongst salon owners. But William Wheelwright, who set up his own hairdressers in Oakham with help from the Sir Thomas White Loan Charity, doesn’t see this as a bad thing – just an opportunity to try different things to set his business apart from the rest.
He has developed a variety of innovative offers to help attract new custom, including the opportunity for men to pay an upfront annual cost for their haircuts, and says that getting people through the door is one of the most daunting parts of starting a business.
Danny Franklin always wanted to head out in business on his own, but the cost of camera equipment constantly held him back.
Now, thanks to the Sir Thomas White Loan Charity, he’s thriving through being self-employed.
The Sir Thomas White Loan Charity has announced that over £500,000 has been provided in the form of nine-year interest-free business and education loans in 2015; the highest total approved during a calendar year in the Charity’s history.
Following the latest round of interviews with prospective borrowers, in which a total of £144,455 was approved by the Charity’s Trustees across 23 applicants, a total of 20 new businesses have been provided with the funds required to assist start-up projects within Leicestershire, whilst a further 59 loans have been delivered to students wishing to continue studies beyond undergraduate degrees.
Ruth Lord, who set up Dress-A-Doll in Lutterworth with the help of a Sir Thomas White Loan Charity loan, is now set to launch a series of children’s books to go alongside her custom dolls.
Collaborating with a published author, Ruth has planned to have three books published – which focus on stories based around a young girl named Aimee who owns three dolls: Megan, Annie and Mabel.
Saturday 5th December is Small Business Saturday – we hope any of our borrowers involved in the day have a great time, and would encourage potential loan candidates to apply to receive funding from us.
Small businesses are the backbone of the UK economy – which is why we’re proud to be able to support so many entrepreneurs and start-ups in a range of industries.